5129 Leo St Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92115
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240026167
Bedrooms 8
Full Baths 4
Year Built 1954
Property Description
Prime opportunity walking distance from SDSU and generates $11,240 of gross rents! This is a value-add property with the opportunity to increase rents further to $12,000+ per month. Ideally located for off-campus student housing, ensures strong rental demand and high rental income. The front house offers 4 bedrooms and 2 bathrooms, now generating $6,040 monthly, while the second unit (new construction ADU) also boasts 4 bedrooms and 2 bathrooms, bringing in $5,200 monthly. This unit includes paid off Solar. Currently a 5.5% Cap Rate, this property has the ability to maximize rents to a pro forma 5.8% Cap Rate. With its unbeatable location and consistent rental demand, this property promises a steady and lucrative return.
Location
State CA
County San Diego
Area San Diego (92115)
Building/Complex Name SDSU/College Area
Interior
Cooling Central Forced Air
Exterior
Exterior Feature Other/Remarks
Garage Spaces 2.0
Fence Other/Remarks
Roof Type Other/Remarks
Building
Story 1
Others
Acceptable Financing Cash,Conventional,Exchange,FHA
Space Rent $6,040
Listing Terms Cash,Conventional,Exchange,FHA
Special Listing Condition Call Agent